SHRED

We were on a call with an investor recently who asked us how we're differentiated from Ethena. Here's our response: No CEX counterparty Ethena carries residual counterparty risk across Binance, Bybit, and OKX. SHRED is DeFi-native on both sides of the trade. On-chain transparency Our short leg executes on Hyperliquid, fully auditable on-chain. Ethena routes through CEXs via OES custody. Yield smoothing A watermark-based buffer fund absorbs volatility and pays out a stabilized target rate. Ethena passes funding rate volatility directly to users. Two yield sources SHRED captures both ETH staking yield via leveraged wstETH looping on Aave and funding rate arbitrage on Hyperliquid. Ethena captures funding rates only. Conservative use of leverage We use conservative leverage on both our Aave long leg wstETH and our Hyperliquid leg on the perp short. This lets us extract more yield per dollar of TVL than a 1x basis trade. Simple deposit UX Users deposit USDC or USDT directly. No requirement to hold or mint a protocol-native collateral asset.

There are now 37M+ coins/tokens in existence. You can try to pick the winners (it's def possible). OR... You can deploy USDC in a high-yield protocol & earn equity-like returns (10%+) now.

@fujitoraaaaa_ No, there's no DCA strategy. When deposits come in, the funds are routed to the strategy and deployed across Ethereum/Hyperliquid the legs. We aren't trying to time the market, but we also can't have cash drag (i.e. sitting on users funds waiting to deploy for the best prices).

@SHREDfi Are dca strategies used for openshort and buy wstETH? If there is a well-structured dca strategy, I think this risk will be minimized.

@zendafatra Eat, sleep, code, repeat.

when holiday on your calendar? @SHREDfi

@fujitoraaaaa_ Good question. It would compress the collateral margin and increase our liquidation risk. We counter this by using conservative liquidation and only using high quality assets with deep liquidity to lower the probability of an event. It still possible and a risk worth noting.

@SHREDfi If the wstETH position is depeg (down 2-5%) from its initial position, how will this affect the @SHREDfi ?

@fujitoraaaaa_ @MarkBardi Yes, we would absolutely consider Solana next. Would be the logical next move based on size of network and stablecoin adoption.

@MarkBardi @SHREDfi Solana is also a very successful DeFi network. If @SHREDfi is successful on Ethereum and HyperLiquid, do you plan to build a multichain on Solana as well?

Why did we build @SHREDfi to be natively cross-chain? In short, each leg of our strategy requires the best platform for the job. Ethereum has the deepest money markets for spot leverage. Hyperliquid has the deepest perps liquidity for hedging. Running both on one chain means compromising on one side of the trade and that compromise costs our users yield. Ethereum - Deepest money market liquidity for leveraged wstETH looping (Aave v3) - Where the capital lives. ~$300B in stablecoins, institutional rails, trusted deposit infrastructure - shUSD composability layer (Morpho, Pendle, Curve) drives TVL flywheel - Most battle-tested security model in crypto Hyperliquid - Only perps DEX with enough open interest to hedge at scale without moving the market - On-chain execution means full transparency on the short leg - Lowest fees of any perps venue, DeFi or CeFi - OI growth trajectory suggests it could rival CEX depth within 12-18 months

Despite the funding rate environment causing some delays, we remain 100% focused on our mission. Here's what we've been up to: - Testing + QA - Finalizing leaderboard UI - Hardening tech infra - LP outreach for deposit - Stress-testing risk scenarios - Aligning GTM w/ advisors

@yourjoeboy I'll send you a DM.

@SHREDfi What concern me with your project my wallet was compromised You said i should chat you on TG

Shredders... We're back! Project update drops tomorrow 🙏

@yourjoeboy Project update coming in ~12 hours from now.

@SHREDfi What next

We are back on X @SHREDfi Project updates coming soon.

@MarkBardi 🙏

Thank you for helping us recover our X account (@SHREDfi) within ~5 days. Much appreciated support.

@MarkBardi @iamXD79 Confirmed.

@iamXD79 @SHREDfi FYI - We have recovered our X account now.

@yourjoeboy Were you a victim? If so, let us know in TG.

@SHREDfi Scammer

@alveejack1 Did you get scammed last week?

@SHREDfi Scammer

@Cisco_Naija The core team has regained control over the account. We will put out an update on the project tomorrow. Apologies for the confusion over the last week.

@SHREDfi Back or still scamming ?